Company offers more dividend increases, new independent director amid calls for a restructuring

SEOUL—Third-generation Samsung heir Lee Jae-yong is betting that more dividend increases and a new independent director will buy some time amid growing calls for a restructuring of South Korea’s biggest conglomerate.

As part of an overhaul unveiled Tuesday, the group’s crown jewel, smartphone maker Samsung Electronics Co., said it would boost its dividend by 30% from last year, appoint a globally minded board director and seek to keep its cash pile below 70 trillion Korean won ($60 billion) in the long term.